Horizon pharma acquires Hyperion Therapeutics for $1.1 billion and with it Ravicti and Buphenyl

Horizon Pharma plc and Hyperion Therapeutics, Inc. announced they have entered into a definitive agreement under which Horizon Pharma will acquire all of the issued and outstanding shares of Hyperion's common stock for $46.00 per share in cash or approximately $1.1 billion on a fully diluted basis. The per share consideration represents a premium of approximately 35 percent to Hyperion's volume weighted average price for the trailing 60-days. The proposed transaction has been unanimously approved by both companies' boards of directors.Strategic and financial benefits of the transaction are the addition of of Ravicti and Buphenyl to Horizon's orphan business unit, providing additional revenue diversification Ravicti and Buphenyl are medicines for people with urea cycle disorders (UCDs), a collection of inherited metabolic disorders, which impact approximately 2,100 people in the United States with approximately 1,100 diagnosed. A marketing authorization application has been filed for European marketing of Ravicti. The prevalence of UCD is similar in Europe and other international markets.